Navigant Research: Next-Gen Advanced Battery Market To Grow To $9.4 Billion In 2023

AUG 19 2014 BY ERIC LOVEDAY

Comparison Between Lithium-Ion and Solid-State Technology

Comparison Between Lithium-Ion and Solid-State Technology

PNNL researchers have developed a hybrid anode made of graphite and lithium that could quadruple the lifespan of lithium-sulfur batteries. Image courtesy of Huang et al, Nature Communications 2014

PNNL researchers have developed a hybrid anode made of graphite and lithium that could quadruple the lifespan of lithium-sulfur batteries.
Image courtesy of Huang et al, Nature Communications 2014

“The advanced battery industry is growing at an extremely aggressive pace, with lithium ion (Li-ion) leading the charge.”

States Navigant Research, who goes on to explain that new battery chemistries may someday displace lithium-ion in the automotive sector:

“The emergence of these new battery chemistries is occurring in the context of an enormous increase in the world’s appetite for advanced energy storage devices.”

Navigant says that several factors are pushing the drive to develop new chemistries.  These factors include (but aren’t limited to):

  • Improved energy density
  • Reduced cost
  • Increase safety
  • Higher cycling abilities

The development of these next-gen battery chemistries/technologies is so important that Navigant has given next-gen battery development its own category with this forward-looking prediction:

“Navigant Research forecasts that global next-generation advanced battery revenue will grow from $182.3 million in 2014 to $9.4 billion in 2023.”

Sam Jaffe, principal research analyst with Navigant Research, states:

“The advanced battery industry is growing at an aggressive pace, and new chemistries will likely enable even more applications for batteries, thus increasing the overall size of the battery industry.  The emergence of these new chemistries will help meet the world’s expanding appetite for advanced energy storage devices.”

Next-generation chemistries include ultracapacitors, lithium sulfur, solid state and next generation flow technologies (along with a whole slew of lesser known technologies).

For more on the next-gen battery market, follow the link to Navigant Research below.

Source: Navigant Research

Categories: Battery Tech, General

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